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Brief of my case, how ivl finance ltd (Indiabulls) had proceed my case and how much financial losses i had beard
In the month of june 2018 my file had been logged in system of mithakhali branch of ahmedabad (Guj) and same got sanctioned in the month of july 2018 and the conditioned was
Loan amount 2, 15, 25, 000
Loan tenure 180 month
Rate of interest offered was 9.75%
There was one special condition in sanction letter that i had running one loan with hdfc that has to be closed by your (Ivl) disbursements but at the end ivl company told us to close it up and submit us the noc for the same, then after you will be valid to receive 2, 15, 25, 000.
So i am ok with that condition and sign the agreement and said i will take more than 2 month to close this loan and also will get 2 month to get registered my sale deed.
Even though ivl system had made my cheque dated 31/07/2018 and started interest on me and made a cheque worth rs 1, 85, 00, 000, and charged interest on 2, 15, 25, 000. Even the rest 30, 25, 000 were not disbursed
Than we went to ivl back for rest 30 lakh disbursement but they gave me only 15, 00, 000 disbursement, rest 15 lacs was not given to us and have changed the loan sanctioned amount from 2, 15, 25, 000 to 200, 00, 000 directly without any intimitation & permission.
My sale deed had happened in sep 2018 and ivl company had hand over cheque to me on oct 2018, means ivl had charged me extra interest of rs 3, 50, 000.
One more mistake by ivl system the seller cheque you had hand over to me that got bounced in the first clearing by requesting again and again, we had re presented and after that it got cleared.
Again a big shock to me i got sanction with 9.75% within second month it revised with 10.05%, in 3rd month it got 11.05%, again in 3rd month it got 12.55%, and as on date my running rate is 12.90% what a big gap it is.
Now when we went to ivl for closure of this loan and company is charging with me @5% penalty to close this loan.
Just to know how fare is this.
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